“Dell Inc. said Thursday that earnings fell slightly in preliminary first-quarter results, and the computer maker planned to lay off more than 8,000 employees over the next year as part of an ongoing restructuring,” Matt Slagle reports for The Associated Press.
“Dell said it earned $759 million, or 34 cents per share, in the three months ended May 4. That compared with $762 million, or 33 cents per share, in the year-ago period,” Slagle reports.
“First-quarter sales rose nearly 1 percent from the year ago period to $14.6 billion,” Slagle reports. “Analysts, on average, expected earnings of 26 cents per share on sales $13.95 billion, according to a poll by Thomson Financial.”
Slagle reports, “Round Rock-based Dell’s earnings statements from the second, third and fourth quarters also remain preliminary and have yet to be filed with the Securities and Exchange Commission because of an ongoing federal accounting probe that found numerous errors, evidence of misconduct and financial control deficiencies.”
“Thursday’s report included a charge of $46 million, or 2 cents per share, for costs related to the investigation,” Slagle reports. “Dell also hasn’t filed its annual report for the fiscal year ended Feb. 2.”
Slagle reports, “The layoffs, which represent 10 percent [MDN Note: Actually, it’s 9%.] of Dell’s global work force of 88,100 full time and part-time employees, come as Dell struggles to regain market share after Hewlett-Packard Co. ousted it from the top spot in worldwide computer shipments last year.”
Full article here.
MacDailyNews Take: Mikey really ought to get to work figuring out how he’s going to sell the company and give the money back to the shareholders.